D&D and the rising pandemic

[Zardnaar]

Housing prices are rising at an absolute insane rate all over in many nations, Europe and the US included. I'm looking at it and cannot figure out why it's rising so rapidly and vastly in the past year.

Houses are almost 2x the price in my area from last year. My property taxes are starting to be of a concern to me, if housing continues to rise at this rate I won't even be able to afford the property taxes where I live in a decade!

Have no idea what I'd do then. It feels like a terrible way to kick out long term residents.

I think I blame uninhibited greed on why they are rising like this, because I have no other explanation.

We had highest population growth rate in OECD.

With Covid alot of NZers decided to return home bringing families 100000 last year. Right before Covid 25000 people in a month.

Share markets all over the place, low interest rates and free money to borrow essentially.

Government essentially guaranteed loans with bailout and perfect storm. And a few thousand either stuck here or they don't want to go home.

10000 rentals 73% of them in 3 locations, Covid dodgers, investors, high population growth, red tape etc perfect storm.

 

[billd91]

I believe it's because the demand has skyrocketed, with folks no longer wanting/needing to live in cities and moving elsewhere. Houses are getting snapped up left and right in my area, despite them being much more expensive than a few years ago...

Part of the issue is demand, driven by long years of low interest rates in the wake of the Great Recession, part of it is speculation (housing flippers), and part of it is politics.

 

[BookTenTiger]

Part of the issue is demand, driven by long years of low interest rates in the wake of the Great Recession, part of it is speculation (housing flippers), and part of it is politics.

We got to actually negotiate for a lower rent in our SF apartment because of all the folks moving.

 

[Hussar]

Canada and NZ are both in the same massive housing bubble. It will burst, eventually, but, for the forseeable future? Wow, whodathunk that my 1300 square foot house that I'm in the process of buying here in Japan would actually be on the cheap end of the scale.

 

[Zardnaar]

Canada and NZ are both in the same massive housing bubble. It will burst, eventually, but, for the forseeable future? Wow, whodathunk that my 1300 square foot house that I'm in the process of buying here in Japan would actually be on the cheap end of the scale.

Difference is the government/reserve bank has essentially guaranteed it.

 

[Maxperson]

We got to actually negotiate for a lower rent in our SF apartment because of all the folks moving.

Down from 10k a month to 9500? That city is spensive.

 

[BookTenTiger]

Down from 10k a month to 9500? That city is spensive.

Insanely expensive. My partner is a doctor at UCSF so it's where we live!

That said, you cannot beat the access to amazing food.

 

[Maxperson]

Insanely expensive. My partner is a doctor at UCSF so it's where we live!

That said, you cannot beat the access to amazing food.

I know. The corporate office for my wife's work was down there for a while. She used to travel there for executive meetings and loved all the good food places. I've always wanted to go to that floating restaurant at the pier, but the one time we had reservations it started raining pretty hard and we just took off.

 

[BookTenTiger]

I know. The corporate office for my wife's work was down there for a while. She used to travel there for executive meetings and loved all the good food places. I've always wanted to go to that floating restaurant at the pier, but the one time we had reservations it started raining pretty hard and we just took off.

If you know the right areas you can get lunch for under $5.00. There's a Chinese bakery where I get two mushroom chicken buns and a black sesame bun for dessert for $3.80.

Of course, I have to buy a cheap lunch because half my paycheck goes to rent!

 

[Zardnaar]

If you know the right areas you can get lunch for under $5.00. There's a Chinese bakery where I get two mushroom chicken buns and a black sesame bun for dessert for $3.80.

Of course, I have to buy a cheap lunch because half my paycheck goes to rent!

Cheapest lunch here is around $3.50 usd.

That's a pizza from dominos or pizza hut or a piece of fish and some chips. Maybe a pie.

Double that for McDonald's combo.

Assuming you don't make it. My lunch normally around a dollar I suppose. If I buy it $10 usd.